Empowering Supplier Collaboration: Beazley's New Partnership with Trust Your Supplier
Welcome to the Beazley-TYS information page. The Procurement team is delighted to launch Beazley’s new streamlined third-party risk and supplier management process with the blockchain-based platform Trust Your Supplier (TYS). TYS is an innovative network and forms another pillar in our effort to strengthen our third-party risk management capabilities and achieve our vision of becoming the highest-performing sustainable specialist insurer.
Why Improving Third-Party Risk and Supplier Management Processes Matters:
As an insurer, our reliance on supply chains is twofold: they enable us to deliver policy, support, and claims services to our policyholders, while also ensuring the smooth operation of our own business. Recognizing the critical role of third-party risk and supplier management, we prioritize initiatives aimed at enhancing risk management, compliance with global regulations, and advancing our sustainability goals.
At Beazley, we strive to cultivate a culture of transparency, trust, and collaboration with our suppliers. Our commitment to sustainability and social responsibility drives us to seek partnerships that enhance these values. Through our collaboration with TYS, we're revolutionizing our third-party risk and supplier management processes to prioritize transparency and simplify communication. This partnership enables us to gain deeper insights into our supply chain, fostering trust and alignment with our sustainability objectives.
ABOUT TYS
TYS is revolutionizing supplier, compliance, and risk management through a cutting-edge blockchain-based platform. At the heart of TYS is your digital wallet, a secure hub where your company’s information is stored and shared with complete transparency. This unique approach ensures that your supplier data is not only accurate but also immutable, enabling better decision-making and a deeper understanding of potential risks within your supply chain.
With our new supplier portal, TYS Connect, we’re committed to providing you with the tools and resources to manage your profile seamlessly, connect with customers, and stay ahead in an increasingly complex and regulated market.
HOW YOU BENEFIT
- Accelerate revenue recognition by reducing the time to your first transaction.
- Eliminate redundant tasks and cut costs with a streamlined onboarding process.
- Share your information once and update it in real time for all customers on the network.
- Increase visibility and discoverability to unlock new business opportunities with customers actively seeking trusted partners.
- Expand into new markets, geographies, and industries with fewer barriers—customers on TYS know they’re connecting with verified, trusted suppliers